Zayo Group Holdings, Inc. (ZAYO) Position Lowered by Principal Financial Group Inc.
Principal Financial Group Inc. trimmed its stake in Zayo Group Holdings, Inc. (NYSE:ZAYO) by 20.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,670 shares of the technology company’s stock after selling 6,628 shares during the period. Principal Financial Group Inc.’s holdings in Zayo Group were worth $884,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thompson Davis & CO. Inc. grew its position in Zayo Group by 2,600.0% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 3,375 shares of the technology company’s stock worth $116,000 after purchasing an additional 3,250 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in Zayo Group during the 2nd quarter worth $142,000. Rehmann Capital Advisory Group purchased a new position in Zayo Group during the 3rd quarter worth $212,000. Global Endowment Management LP grew its position in Zayo Group by 8.1% during the 2nd quarter. Global Endowment Management LP now owns 8,010 shares of the technology company’s stock worth $247,000 after purchasing an additional 600 shares during the last quarter. Finally, Comerica Bank grew its position in Zayo Group by 23.1% during the 2nd quarter. Comerica Bank now owns 8,248 shares of the technology company’s stock worth $266,000 after purchasing an additional 1,546 shares during the last quarter. 84.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) traded up $0.61 during midday trading on Thursday, hitting $37.07. 3,189,800 shares of the company traded hands, compared to its average volume of 2,358,123. The company has a debt-to-equity ratio of 3.81, a current ratio of 0.91 and a quick ratio of 0.91. Zayo Group Holdings, Inc. has a 12-month low of $29.30 and a 12-month high of $37.18. The firm has a market capitalization of $9,018.95, a PE ratio of 81.02, a price-to-earnings-growth ratio of 14.84 and a beta of 0.53.
Several research analysts have issued reports on ZAYO shares. Oppenheimer reissued a “buy” rating and set a $42.00 price objective on shares of Zayo Group in a research report on Tuesday, November 7th. Deutsche Bank initiated coverage on shares of Zayo Group in a research note on Monday, August 28th. They issued a “hold” rating for the company. Zacks Investment Research cut shares of Zayo Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. BidaskClub upgraded shares of Zayo Group from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. Finally, TheStreet cut shares of Zayo Group from a “b-” rating to a “c+” rating in a research note on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $39.46.
In other Zayo Group news, CFO Matt Steinfort sold 812 shares of Zayo Group stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $34.95, for a total transaction of $28,379.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Caruso sold 29,114 shares of Zayo Group stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $34.35, for a total transaction of $1,000,065.90. Following the transaction, the chief executive officer now owns 4,284,854 shares of the company’s stock, valued at approximately $147,184,734.90. The disclosure for this sale can be found here. Insiders sold 4,937,348 shares of company stock valued at $176,927,529 in the last quarter. Company insiders own 5.20% of the company’s stock.
About Zayo Group
Zayo Group Holdings, Inc provides communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure to a range of businesses. The Company operates in five segments: Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other.
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